Philip Frederick Anschutz ( AN-shoots; born December 28, 1939) is an American entrepreneur. Anschutz bought out his father's drilling company, Circle A Drilling, in 1961 and earned large returns in Wyoming.

Anschutz is a somewhat reclusive man who prefers to stay out of the limelight. He has granted only three formal interviews since 1979, and none at all from the 1980s until 2015.[12][13] On December 6, 2015, Anschutz broke his media silence when he appeared with several of the founders of Major League Soccer to reflect on the league's 20th anniversary.[14] Anschutz has run 15 marathons.[15]

Land ownership

In 1970, Anschutz bought the 250,000-acre (1,000 km²) Baughman Farms, one of the country's largest farming corporations, in Liberal, Kansas, for $10 million. The following year, he acquired 9 million acres (36,000 km²) along the Utah-Wyoming border. This produced his first fortune in the oil business.[16] In the early 1980s, the Anschutz Ranch, with its 1 billion barrel (160,000,000 m³) oil pocket, became the largest oil field discovery in the United States since Prudhoe Bay in Alaska in 1968. He sold an interest in it to Mobil Oil for $500 million in 1982.

For several years, Anschutz was Colorado's sole billionaire. With his acquisition of land in other Western states, he is one of the 100 largest landholders in the United States.[17][18]

Anschutz then moved into railroads and telecommunications before venturing into the entertainment industry. In 1999, Fortune magazine compared him to the nineteenth-century tycoon J.P. Morgan, as both men "struck it rich in a fundamentally different way: they operated across an astounding array of industries, mastering and reshaping entire economic landscapes."

Rail and petroleum businesses

In 1984, he entered the railroad business by purchasing the Rio Grande Railroad's holding company, Rio Grande Industries. Four years later in 1988, the Rio Grande railroad purchased the Southern Pacific Railroad under his direction. With the merger of the Southern Pacific and Union Pacific Corporation in September 1996, Anschutz became Vice-Chairman of Union Pacific. Prior to the merger, he was a director of Southern Pacific from June 1988 to September 1996, and non-executive chairman of Southern Pacific from 1993 to September 1996. He was also a director of Forest Oil Corporation beginning in 1995. In November 1993 he became Director and Chairman of the Board of Qwest, stepping down as a nonexecutive co-chairman in 2002 but remaining on the board. He has also been a director for Pacific Energy Partners and served on the boards of the American Petroleum Institute, in Washington, D.C. and the National Petroleum Council in Washington, D.C.

In May 2001, the Bush administration upheld Anschutz's right to drill an exploratory oil well at Weatherman Draw in south-central Montana where Native American tribes wanted to preserve sacred rock drawings. Environmental groups, preservationists, and ten Native American tribes had appealed the decision without success. In April 2002, the Anschutz Exploration Corporation gave up its plans to drill for oil in the area. They donated its leases for oil and gas rights to the National Trust for Historic Preservation, which has pledged to let the leases expire, and the Bureau of Land Management said it had no plans to permit further leases there and would consider formal withdrawal of the 4,268 acre (17 km²) site from mineral leasing in its 2004 management plan. In recognition of its preservation efforts, The National Trust for Historic Preservation presented its President's Award to the Anschutz Exploration Corporation[19]

In May 2003, New York Attorney GeneralEliot Spitzer reached a settlement with Anschutz after the AG filed a civil complaint accusing Anschutz of accepting IPO shares from Salomon Smith Barney in exchange for Qwest's investment banking business. Anschutz denied any wrongdoing but volunteered to donate a total of $4.4 million to settle the case as long as he selected the recipient organizations in advance.[20] Anschutz paid $100,000 to each of 32 New York nonprofit philanthropic groups, as well as $200,000 to each of six law schools. In return, Spitzer dropped his civil suit.[21] The payment was roughly equal to his profit from the practice of IPO "spinning"; thus, he actually suffered no penalty. The suit by Spitzer was panned in a Wall Street Journal editorial headlined, "The Anschutz Ransom".[22] The U.S. Securities and Exchange Commission and the U.S. Department of Justice extensively investigated Qwest officials and determined there was no justification for taking action against any board member. The Denver Post summarized the implications for Anschutz: "Not only is Qwest founder and board member Philip Anschutz not a defendant in the long-awaited civil case against the regime of former Qwest chief executive Joe Nacchio, he doesn't even merit a mention in the 50-page complaint."[23]

In February 2006, the Denver Rocky Mountain News reported that Anschutz would not stand for re-election to the boards of Qwest and Union Pacific and would resign from the board of Regal Entertainment Group so he could focus on his other investments.[24]

Entertainment -- Anschutz Entertainment Group

The Anschutz Entertainment Group (AEG) is a sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. It is the owner of entertainment venues and under AEG Live the world's second largest presenter of live music and entertainment events after Live Nation. Through AEG Live, it owns the Coachella Music Festival.

On September 18, 2012, Anschutz announced he was putting AEG up for sale but decided not to accept[13] any of the bids, and on March 14, 2013 he took AEG off the market.[27]

Anschutz was instrumental in several MLS initiatives that have grown the league's revenues and profits. For example, Anschutz pushed for the building of soccer-specific stadiums, allowing MLS teams to increase revenue and better control costs.[28] Anschutz also advocated for MLS' creation of Soccer United Marketing, the league's sales and marketing arm.[28] Anschutz has since sold his stake in the Chicago, Denver, Houston, New York, San Jose and D.C. MLS teams and currently only owns the Galaxy.

Other sports

The SportsBusiness Journal named Anschutz the fifth most influential person in sports business in 2012 in its annual survey of the "50 Most Influential People in Sports Business."[33] Anschutz owns stakes in the Los Angeles Lakers and Los Angeles Kings and venues including the Staples Center and O2 Arena. AEG is the world's largest owner of sports teams, sports events, and sports venues.

Philanthropy

One of the world's wealthiest individuals, Anschutz has been an active philanthropist.[34] He was listed as #113 on the Forbes list of billionaires in January 2015, with a net worth of $10.3 billion.[35] He heads the Anschutz Foundation.

Anschutz and his wife have contributed over $100,000,000 to the new medical, dental, nursing, and pharmacy campus of the University of Colorado School of Medicine in Aurora, Colorado, which is now named the Anschutz Medical Campus in their honor. The land came from the recently closed Fitzsimons Army Medical Center, but millions were needed for the construction of new medical laboratory buildings and a new University Hospital on the land.

They have also donated to the University of Kansas, their alma mater. There is an Anschutz Library and Anschutz Sports Pavilion named in honor of their contributions.

Other business ventures

Anschutz had multiple other business ventures, including Forest Oil, Pacific Energy Group, Union Pacific Railroad (Anschutz is the company's largest shareholder, with a 6% stake), the Regal Entertainment Group, which is the largest movie theater chain in the world, with approximately 7,000 screens - Anschutz owns more than half of the company, and multiple newspapers and media groups.

Anschutz has invested in, for example, the Clarity Media Group, a Denver-based publishing group that includes[37] newspapers such as The Oklahoman, the largest newspaper in Oklahoma; The San Francisco Examiner (purchased in 2004, sold in November 2011); The Washington Examiner, a right-wing weekly tabloid which was consolidated from group of D.C.-area suburban dailies; The Baltimore Examiner, which launched in April 2006 and was shut down in early 2009; the now-closed Examiner.com, a hyper-local web portal where contributors wrote on local topics from news to blog-like stories; the conservative Weekly Standard (purchased in 2009);[38] and The Gazette, the second-largest newspaper in Colorado with a daily circulation of 74,172 (purchased on November 30, 2012)[39] (Anschutz has trademarked the name "Examiner" in more than sixty cities.)

Anschutz invested in both the Oil & Gas Asset Clearinghouse, which is an auction company designed for the Oil & Gas Business, and NRC Broadcasting, which owns a string of radio stations in Colorado. The Anschutz Investment Company also purchased LightEdge Solutions in February 2008. LightEdge is a business-to-business hosted services provider focused on Wide-Area-Networking, Voice-over-IP, Hosted Microsoft applications (Exchange, OCS, SharePoint), hosted servers/storage collocation cage and rackspace and Business Continuity Services.[40]

It was announced on September 15, 2011, that Anschutz would be acquiring all assets of the Oklahoma Publishing Company (OPUBCO) from the Gaylord and Dickinson families. Upon closing, Anschutz would operate OPUBCO separately from all his other publishing and media assets as its own independent company. Closing was expected in October 2011. In March 2012, it was reported that Anschutz was interested in buying the Rangers. He also invested in the Power Company of Wyoming LLC,[41] formed in 2007[42] (re-incorporated in 2010)[43]) for the purpose of building the Chokecherry and Sierra Madre wind power complex in Carbon County, Wyoming, comprising up to 1,000 wind turbines with up to 3,000 megawatts of capacity.[41] It will be sited on 229,077 acres, about half federal, about half privately owned by an affiliate, and a smattering of state lands.[44][45] According to the Bureau of Land Management, which on July 2, 2012, announced completion of the project's final Environmental Impact Statement, "Chokecherry and Sierra Madre are two distinct sites approximately five miles apart which are both being analyzed together. When combined, they comprise the largest commercial wind generation facility proposed in the U.S. and one of the largest in the world." Construction is expected to start in 2013, and cost an estimated $4 billion-$6 billion."[46]

Anschutz reportedly donated to conservative causes and groups which are openly anti-gay, anti-transgender, and anti-abortion.[51] He responded to the reports by saying, "Neither I nor the Foundation fund any organization with the purpose or expectation that it would finance anti-LGBTQ initiatives, and when it has come to my attention or the attention of the Anschutz Foundation that certain organizations either the Foundation or I have funded have been supporting such causes, we have immediately ceased all contributions to such groups." [52] Anschutz contributed $1,000,000 to conservatives during the 2016 U.S. elections, including pro-life and pro-gun candidates, and $200,000 to Republican politicians and political action committees during the 2017 off-year elections.[53]